British band Oasis have reportedly signed a new record deal with Sony BMG Music Entertainment via the band's own record label Big Brother Recordings. Big Brother will release the band's new material while Sony BMG, a joint venture of Sony (NYSE: SNE) and Germany's Bertlesmann Media Group, handles distribution of the new album and the band's back catalog in all markets, and the two companies will share profits. Music newspaper NME additionally reports that all signs indicate the first album as part of the new arrangement will be released this fall.

The band has been associated with Sony BMG in some form or another since its first album was released in 1994. Creation Records, the band's first label in the United Kingdom, handled distribution and release there, while Sony handled the same duties in other markets, including the United States. When Creation folded in the late 90s and Big Brother was set up, the same arrangement was kept. The band's last album of new material was released in the U.S. by Sony BMG's Epic Records, while the band's final album under the old contract, a "best of" compilation, was released by Columbia Records.

Oasis' management reported that the band is excited about the deal and the prospects that it gives the band in "building on the band's already considerable international success." The band's management reported that the new deal "allows the band to take advantage of all the opportunities presented by the new business models available today as well as remaining totally in control of their own destiny." Other band's at the same level of international success as Oasis, like Radiohead or Nine Inch Nails, have pursued different business methods than more traditional record labels.

Germany-based Bertelsmann has valued its half of Sony BMG Music Entertainment between $1.2 and $1.5 billion, according to a report by Billboard published Thursday. The company reportedly wants to pull out of the joint venture with Sony Corporation (NYSE: SNE), and the noted price would lower if Sony offered to buy some services from Bertelsmann. Apparently the separation was expected to take place this summer, but neither party has reached a satisfactory agreement on the price of the aforementioned half.

The venture between Sony and Bertelsmann started in 2004 and is set to expire in August 2009, but rumors have emerged from within Bertelsmann that a new deal will take place before the expiration date, according to Billboard. Despite these rumors, Bertelsmann CEO Hartmut Ostrowski revealed in January that there were three options at that time: Bertelsmann would take over 100% ownership, sell the company's 50% to Sony, or continue the venture. More frightening is the note by Billboard that Bertelsmann's CFO Thomas Rabe has "reportedly met with at least two private equity companies to discuss the possible sale of its share" in the months since Ostrowski revealed the options.

Sale to a private equity firm would mirror a similar sale that occurred last year with British-based EMI Group. The label responsible for groups like The Beatles and Coldplay sold out to private equity firm Terra Firma, which resulted in mass layoffs and a new management plan that has not benefited the label or its artists. Billboard also notes that industry sources expect much of the European management and control for Sony BMG to shift to the U.S. anyway. If that is the case, it would leave two of the four major record labels based in the United States. The other label is Warner Music Group (NYSE: WMG).